Insights from the Market Desk by FenzoFx.com

[FxNews]

USDJPY Technical Analysis





FenzoFx—USDJPY tested 150.25, a trading range below this level and the 50-period simple moving average. A close above 150.25 can trigger the uptrend, targeting 151.2.


Conversely, a dip below 148.2 invalidates the bullish outlook, with 148.2 as the first target and 147.43 as the secondary target.

[FxNews]

XRP tests Key Resistance Level





FenzoFx—Ripple (XRP) has climbed from $2.026 and is currently testing resistance at $2.218. Despite this upward movement, the overall trend remains bearish as the price stays below the 50-period simple moving average on the 4-hour chart.

The nearest support level is $2.026. If XRP/USD drops below this point, the downtrend may strengthen, potentially driving the price toward $1.90 and then $1.80.



Bullish Outlook

For the bearish trend to reverse, XRP needs to break above the immediate resistance at $2.218. If that happens, the next target could be $2.355.

[FxNews]

Litecoin Tests Key Support: Reversal or Further Drop?





FenzoFx—Litecoin is currently testing a key support zone between $80.0 and $83.0, which previously marked its February low. The overall trend remains bearish, but this support level could trigger a price rebound, potentially shifting momentum in favor of buyers. If Litecoin holds above $80.0, there is a possibility of a recovery toward $100.0.


However, if sellers manage to break below this critical level, the downward trend may continue, with the next target set at $75.0.

[FxNews]

USD/CAD Pulls Back After Hitting 1.4400





FenzoFx— The USD/CAD pair hit 1.4400 but lost momentum, pulling back from resistance. Technically, USD/CAD may dip toward the 50-period SMA near 1.4330 before resuming its uptrend.


However, if USD/CAD drops below 1.4330, the bearish momentum may extend to the 1.4250 support, invalidating the bullish outlook.

[FxNews]

Ethereum Price Rebounds: Key Levels to Watch





FenzoFx—Ethereum's downtrend stabilized at $1,755, a key support level. Currently, ETH/USD trades at $1,854, testing resistance.

A double bottom pattern on the 4-hour chart suggests potential growth if bulls secure a close above $1,860. The next target could be $1,950, supported by the 50-period moving average.

[FxNews]

Bitcoin Eyes $84,720 After Key Support Rebound






FenzoFx—Bitcoin rebounded from the $81,160 support level and surged past $83,520, forming higher highs. If the price stays above this key support, the bullish momentum could continue. The next upside targets are $84,720 and $86,340. However, if Bitcoin drops below $81,160, the trend may reverse, potentially falling to $77,850.

[FxNews]

AUD/USD Eyes Fibonacci Support






FenzoFx—AUD/USD broke below the critical support at $0.626, heading toward the 78.6% Fibonacci level. The bearish trend remains intact while the price stays below the $0.6329 resistance.

[FxNews]

GBPJPY Bulls Eye 200.0 Amid Pullback





FenzoFx—GBPJPY recently hit a higher high after breaking past 195.0 resistance but has pulled back to 194.7, approaching the 50-period SMA on the 2-hour chart.


The outlook remains bullish as long as the price holds above 193.5, with potential gains toward 200.0 resistance. However, a bearish wave could emerge if GBPJPY drops below the ascending trendline and 193.5 support, targeting 192.0.

[FxNews]

NZDUSD Formed a Double Bottom Pattern: What's Next?​





FenzoFx—The NZD/USD pair formed a double bottom pattern at the $0.5710 support. The trend remains bearish, with the price below the 50-period SMA. The downtrend will stay intact unless the pair breaks above the $0.575 resistance.


For bears to regain control, the price must close below $0.5710, targeting the next support at $0.5678.

[FxNews]

SOL/USD Downtrend Escalated





FenzoFx—Solana broke the $135.0 support as expected. The double top pattern signaled this possibility in the 30-minute chart. As of this writing, SOL/USD is bouncing to test the broken support.


The market outlook remains bearish as long as it trades below $140.0, and the next target could be $130.0.